Signaturefd LLC Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

Signaturefd LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,947 shares of the real estate investment trust’s stock after buying an additional 175 shares during the quarter. Signaturefd LLC’s holdings in Simon Property Group were worth $706,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after buying an additional 51,380 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Simon Property Group by 4.6% in the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock worth $21,923,000 after buying an additional 6,703 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Simon Property Group by 121.5% in the fourth quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after buying an additional 17,552 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth about $238,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Simon Property Group by 9.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock worth $11,670,000 after buying an additional 7,250 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $143.78 on Wednesday. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $46.86 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. The stock’s 50 day simple moving average is $149.30 and its 200-day simple moving average is $136.47.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business posted $3.15 EPS. Simon Property Group’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group announced that its board has approved a stock repurchase plan on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 5.42%. The ex-dividend date was Thursday, March 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Truist Financial raised their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley raised their target price on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.